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Meats Futures Prices

Thu, Jan 21st, 2021
[[ timeframe ]] futures price quotes as of Thu, Jan 21st, 2021.
Latest price quotes as of [[ snapshotDate ]].
[[ timeframe ]] futures price quotes, based on [[ timeframe ]] data.
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Futures Market News and Commentary

Cattle Prices Find Thursday Strength

Front month live cattle futures are gaining 47 to 85 cents at midday. Feb futures are only up $0.75 as the week’s early cash trade has been weaker. Feeder cattle futures are up triple digits at midday with $0.35 to $1.30 gains. The CME Feeder Cattle Index was $0.51 lighter at $132.90 on 1/18. The bulk of the week’s cash trade has been $0.50 to $1 weaker wk/wk, with most trades near $110 so far. Northern cattle remain discounted to prices in the South, indicative of finished cattle availability. The CoF numbers will be released tomorrow afternoon. Indonesia’s Ag Ministry is looking for 2021 beef consumption to expand 64% yr/yr to 696,956 MT. In achieving this, directors estimate 502,000 head of cattle, along with 85,5000 MT of beef, need to be brought in. Wholesale Boxed Beef prices were higher again in the AM quote. Choice boxes were up $2.48 cwt. and Select boxes were $3.01 higher. USDA estimates the week’s FI cattle slaughter at 349k head. That was even with last week’s pace, but... Read more

Hog Prices are Gaining at Midday

Lean hog futures are up 32 to 90 cents at midday, save for UNCH Feb at $68.42. Pork cutout futures are trading with midday 10 to 35 cent gains. The CME Lean Hog Index was back up by 36 cents on 1/18 to $65.92. USDA’s National Average Base Hog price was down by $1.95 in the AM update, at $54.69. The National Pork Carcass Cutout value was quoted at $83.98 in the AM report. That was up $4.96 on a $10.88 bump in hams and a $17.42 increase for bellies.  USDA estimated FI hog slaughter at 1.423 million head through Wednesday. That was down 71,0000 head wk/wk, but up from 1.39m the same week last year.

Feb 21 Hogs are at $68.425, unch,,Apr 21 Hogs are at $73.725, up $0.650May 21 Hogs are at $78.450, up $0.475Feb 21 Pork Cutout is at $79.125, up $0.350,

--- provided by Brugler Marketing & Management

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